Japanese Post Offices Set To Distribute 401(k) Style
Investments

October 29, 2001 (PLANSPONSOR.com) - Japan's Postal
Services Agency has cobbled together a deal with 13 domestic
and foreign financial institutions to handle their
401(k)-style investment products at post offices across the
nation.

Beginning in January, post offices will sell deposit
instruments and investment funds from these firms as part
of a DC-style pension program for the self-employed and
employees of small businesses.

The 13 financial firms include:

Daiwa Bank

Sumitomo Trust & Banking Co.

Chuo Mitsui Trust & Banking Co.

Nomura Asset Management Co.

Nikko Asset Management Co.

State Street Global Advisors (Japan) Co.

Merrill Lynch Investment Managers Co.

Goldman Sachs Investment Trust Management Co.

Fidelity Investments Japan Ltd.

Post offices will serve as brokerage centers where
specialized staff members will provide explanations of the
new retirement savings plan and the different investment
and savings options that members can choose from, according
to reports.

This is the first time that postal staff will be selling
investment funds where principal is at risk. For this
reason, the agency will limit fund sales next year to 700
post offices where staff members with specialized training
in investments can be placed.

The network of post offices offering investment funds is
expected to expand to 1,300 in April 2003, according to Dow
Jones.